German investor belief plunges

GERMAN investor confidence fell the most in 16 months in March, exacerbated by the bombings in Madrid, amid concern about the strength of a recovery in Europe’s largest economy, the ZEW Centre for European Economic Research said.

The Mannheim-based ZEW said its index of institutional investor and analyst sentiment fell to 57.6, the lowest since August, from 69.9 in February. Economists expected a drop to 65.8, according to the median forecast of 34 Bloomberg News surveyed.

The index touched a 42-month high in December.